/raid1/www/Hosts/bankrupt/TCR_Public/060624.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, June 24, 2006, Vol. 10, No. 149
Headlines
ACCEPTANCE INSURANCE: Earns $955,683 in April 2006
ACCEPTANCE INSURANCE: Posts $107,080 Net Loss in May 2006
CALPINE CORP: Carville Energy Files Schedules of Assets & Debts
CALPINE CORP: Columbia Energy Files Schedules of Assets & Debts
CALPINE CORP: Corpus Christi Files Schedules of Assets and Debts
CALPINE CORP: Decatur Energy Files Schedules of Assets and Debts
CALPINE CORP: Freestone Power Files Schedules of Assets & Debts
CALPINE CORP: Geysers Power Files Schedules of Assets and Debts
CALPINE CORP: Mobile Energy Files Schedules of Assets and Debts
CALPINE CORP: Morgan Energy Files Schedules of Assets and Debts
ENTERGY NEW ORLEANS: Earns $1.1 Million in April 2006
INTERSTATE BAKERIES: Earns $7.5 Million for Period Ended April 29
MUSICLAND HOLDING: Posts $11.1 Million Net Loss in May 2006
NEWPOWER HOLDINGS: Files Monthly Report for Period Ended April 30
REFCO INC: Files May 2006 Monthly Operating Report
REFCO INC: Refco LLC's Operating Report for Period Ended Dec. 31
REFCO INC: Refco LLC Files January 2006 Monthly Operating Report
REFCO INC: Refco LLC Files February 2006 Monthly Operating Report
REFCO INC: Refco LLC Files March 2006 Monthly Operating Report
REFCO INC: Refco LLC Files April 2006 Monthly Operating Report
REFCO INC: Lind-Waldock Files Schedules of Assets and Liabilities
REFCO INC: Refco Managed Futures Files Schedules of Assets & Debts
REFCO INC: Westminster Files Schedules of Assets and Liabilities
SONICBLUE INC: Files April 2006 Monthly Operating Report
WINN-DIXIE: Earns $36.5 Million in May 2006
*********
ACCEPTANCE INSURANCE: Earns $955,683 in April 2006
--------------------------------------------------
On May 4, 2006, Acceptance Insurance Companies Inc. filed its
monthly operating report for April 2006 with the United States
Bankruptcy Court for the District of Nebraska.
The Debtor reports a $955,683 net income on $8,734 of total
revenue for April 2006.
At April 30, 2006, Acceptance Insurance Companies Inc.'s balance
sheet showed:
Total Current Assets $2,386,616
Total Assets $32,854,677
Total Liabilities $138,191,909
Total Shareholders' Equity Deficit ($105,337,232)
A full-text copy of Acceptance Insurance Companies Inc.'s April
2006 Monthly Operating Report is available at no charge at
http://ResearchArchives.com/t/s?c11
Headquartered in Council Bluffs, Iowa, Acceptance Insurance
Companies Inc. -- http://www.aicins.com/-- owns, either directly
or indirectly, several companies, one of which is an insurance
company that accounts for substantially all of the business
operations and assets of the corporate groups. The Company filed
for chapter 11 protection on Jan. 7, 2005 (Bankr. D. Nebr. Case
No. 05-80059). The Debtor's affiliates -- Acceptance Insurance
Services, Inc., and American Agrisurance, Inc. -- filed separate
chapter 7 petitions (Bankr. D. Nebr. Case Nos. 05-80056 & 05-
80058) on Jan. 7, 2005. John J. Jolley, Esq., at Kutak Rock LLP,
represents the Debtor in its restructuring efforts. When the
Debtor filed for protection from its creditors, it listed
$33,069,446 in total assets and $137,120,541 in total debts.
ACCEPTANCE INSURANCE: Posts $107,080 Net Loss in May 2006
---------------------------------------------------------
On June 13, 2006, Acceptance Insurance Companies Inc. filed its
monthly operating report for May 2006 with the United States
Bankruptcy Court for the District of Nebraska.
The Debtor reports a $107,080 net loss on $10,369 of total revenue
for May 2006.
At May 31, 2006, Acceptance Insurance Companies Inc.'s balance
sheet showed:
Total Current Assets $2,300,344
Total Assets $32,768,405
Total Liabilities $138,212,717
Total Shareholders' Equity Deficit ($105,444,312)
A full-text copy of Acceptance Insurance Companies Inc.'s May
2006 Monthly Operating Report is available at no charge at
http://ResearchArchives.com/t/s?c12
Headquartered in Council Bluffs, Iowa, Acceptance Insurance
Companies Inc. -- http://www.aicins.com/-- owns, either directly
or indirectly, several companies, one of which is an insurance
company that accounts for substantially all of the business
operations and assets of the corporate groups. The Company filed
for chapter 11 protection on Jan. 7, 2005 (Bankr. D. Nebr. Case
No. 05-80059). The Debtor's affiliates -- Acceptance Insurance
Services, Inc., and American Agrisurance, Inc. -- filed separate
chapter 7 petitions (Bankr. D. Nebr. Case Nos. 05-80056 & 05-
80058) on Jan. 7, 2005. John J. Jolley, Esq., at Kutak Rock LLP,
represents the Debtor in its restructuring efforts. When the
Debtor filed for protection from its creditors, it listed
$33,069,446 in total assets and $137,120,541 in total debts.
CALPINE CORP: Carville Energy Files Schedules of Assets & Debts
---------------------------------------------------------------
A. Real Property
Generation Facility, Saint Gabriel, LA $2,389,385
Generation Facility (Land), St. Gabriel, LA 275,480
B. Personal Property
B.1 Cash on hand
B.2 Bank Accounts
B.13 Stock and Interests in business undetermined
see http://ResearchArchives.com/t/s?bf5
B.14 Interests in partnerships or joint ventures undetermined
see http://ResearchArchives.com/t/s?bf5
B.16 Accounts Receivable 5,282,434
B.25 Vehicles 160,133
B.28 Office equipment, furnishings and supplies 307,974
B.29 Machinery 380,212,534
see http://ResearchArchives.com/t/s?bf6
B.30 Inventory 1,833,584
B.35 Other Personal Property 198,427
TOTAL SCHEDULED ASSETS $390,659,951
=============
C. Property Claimed as Exempt 0
D. Secured Claims
Morgan Stanley-1st Priority Term Loan 610,277,752
Morgan Stanley-2nd Priority Term Loan 101,088,003
Wilmington Trust-1st Priority Notes 239,075,226
Wilmington Trust-2nd Priority Notes 647,134,331
Wilmington Trust-3rd Priority Notes 699,970,845
Wilmington Trust-3rd Priority Fixed Notes 153,833,333
E. Unsecured Priority Claims undetermined
see http://ResearchArchives.com/t/s?bf7
F. Unsecured Non-priority Claims
Trade Payables
Airgas Gulf State Region 10,474
Anderson Janitorial Services 1,000
Carter Chambers 2,478
Colt Services, Inc. 4,283
Drago Supply Co., Inc. 3,685
Iberville Insulations LLC 7,216
Industrial Parts Specialties 2,813
Industrial Repair Services, Inc. 1,062
Ingersoll Rand Air Center 32,448
Premier Chemicals & Services 1,315
Specialty Application Services, Inc. 8,632
Star Service, Inc. 1,130
The Nalco Co. 61,994
Others 10,447
Intercompany Claims
Baytown Energy Center, LP (900)
CalGen Expansion Company, LLC (31,393)
Calpine Generating Company, LLC 115,255,754
Calpine Oneta Power, L.P. 2,315
Columbia Energy LLC (2,486)
Corpus Christi Cogeneration L.P. (4,150)
Decatur Energy Center, LLC (427)
Freestone Power Generation LP 6,600
Morgan Energy Center, LLC (2,145)
Pastoria Energy Facility L.L.C. (1,013)
RockGen Energy LLC 469
TOTAL SCHEDULED LIABILITIES $2,566,746,091
===============
Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants. Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces. Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services. The Company filed for chapter 11 protection on
Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard
M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq.,
and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts. Michael S. Stamer, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors. As of Dec. 19, 2005, the
Debtors listed $26,628,755,663 in total assets and $22,535,577,121
in total liabilities. (Calpine Bankruptcy News, Issue No. 18;
Bankruptcy Creditors' Service, Inc., 215/945-7000)
CALPINE CORP: Columbia Energy Files Schedules of Assets & Debts
---------------------------------------------------------------
A. Real Property
Generation Facility, Gaston, SC $71,162,214
B. Personal Property
B.1 Cash on hand 415
B.2 Bank Accounts
Union Bank of California Disbursement Account 1,042
B.3 Security Deposits
South Carolina Electric & Gas 164,000
B.13 Interests in partnerships or joint ventures undetermined
see http://ResearchArchives.com/t/s?bf8
B.14 Government and Corporate Bonds undetermined
see http://ResearchArchives.com/t/s?bf8
B.16 Accounts Receivable 477,294
B.18 Other Liquidated Debts
Eastman Chemical Interest Receivable 315,675
Eastman Chemical Co. Notes Receivable 19,412,862
B.25 Vehicles 27,025
B.28 Office equipment, furnishings and supplies 69,036
B.29 Machinery 100,729,953
see http://ResearchArchives.com/t/s?bf9
B.30 Inventory 2,475,012
B.35 Other Personal Property 271,507
TOTAL SCHEDULED ASSETS $195,106,034
=============
C. Property Claimed as Exempt
D. Secured Claim
Morgan Stanley-1st Priority Loan 610,277,752
Morgan Stanley-2nd Priority Loan 101,088,003
Wilmington Trust-1st Priority Notes 239,075,226
Wilmington Trust-2nd Priority Notes 647,134,331
Wilmington Trust-3rd Priority Notes 699,970,844
Wilmington Trust-3rd Priority Fixed Notes 153,833,333
E. Unsecured Priority Claims undetermined
see http://ResearchArchives.com/t/s?bfa
F. Unsecured Non-priority Claims
Trade payables 188,950
Intercompany claims
Baytown Energy Center LP 778
Broad River Energy LLC (4,689)
CalGen Expansion Company LLC (7,578,318)
Calpine Corporation (21,707)
Calpine Generating Company LLC 179,958,825
Carville Energy LLC 2,486
Corpus Christi Cogeneration LP (2,186)
Decatur Energy Center LLC 3,345
Freestone Power Generation LP (138)
Goldendale Energy Center LLC (4,655)
Morgan Energy Center LLC 645
Zion Energy LLC (3,178)
Potential litigation claims undetermined
see http://bankrupt.com/misc/columbiaEnergy_F5.pdf
TOTAL SCHEDULED LIABILITIES $2,623,819,648
===============
Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants. Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces. Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services. The Company filed for chapter 11 protection on
Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard
M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq.,
and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts. Michael S. Stamer, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors. As of Dec. 19, 2005, the
Debtors listed $26,628,755,663 in total assets and $22,535,577,121
in total liabilities. (Calpine Bankruptcy News, Issue No. 18;
Bankruptcy Creditors' Service, Inc., 215/945-7000)
CALPINE CORP: Corpus Christi Files Schedules of Assets and Debts
----------------------------------------------------------------
A. Real Property
Generation Facility, Corpus Christi, TX $3,932,505
Generation Facility (Roads) 2,350,719
B. Personal Property
B.1 Cash on hand 846
B.2 Bank Accounts
Frost National Bank Checking Account 9,503
B.13 Interests in partnerships or joint venture undetermined
see http://ResearchArchives.com/t/s?bfb
B.14 Government and Corporate Bonds undetermined
See http://ResearchArchives.com/t/s?bfb
B.16 Accounts Receivable 13,077,678
B.17 Other Liquidated Debts 151,677
B.28 Office equipment, furnishings and supplies 1,713,565
B.29 Machinery 364,877,221
see http://ResearchArchives.com/t/s?bfc
B.30 Inventory 1,342,565
B.35 Other Personal Property 210,791
TOTAL SCHEDULED ASSETS $387,667,070
=============
C. Property Claimed as Exempt
D. Secured Claim
Morgan Stanley-1st Priority Loan 610,277,752
Morgan Stanley-2nd Priority Loan 101,088,003
Wilmington Trust-1st Priority Notes 239,075,226
Wilmington Trust-2nd Priority Notes 647,134,331
Wilmington Trust-3rd Priority Notes 699,970,844
Wilmington Trust-3rd Priority Fixed Notes 153,833,333
E. Unsecured Priority Claims undetermined
see http://ResearchArchives.com/t/s?bfd
F. Unsecured Non-priority Claims
CITGO Petroleum Corporation undetermined
Trade payables 677,351
Intercompany claims
Baytown Energy Center LP 873
CalGen Expansion Company LLC (28,113)
Calpine Construction Finance Co. LP 1,275
Calpine Generating Company LLC 109,836,918
Calpine Oneta Power LP 5,297
Calpine Operating Services Co., Inc 6,216,121
Carville Energy LLC 4,150
Columbia Energy LLC 2,186
Decatur Energy Center LLC (438)
Delta Energy Center LLC 455
Freestone Power Generation LP 8,772
Goldendale Energy Center LLC (2,401)
Morgan Energy Center LLC (2,177)
Nueces Bay Energy LLC 1,990
TOTAL SCHEDULED LIABILITIES $2,568,101,749
===============
Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants. Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces. Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services. The Company filed for chapter 11 protection on
Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard
M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq.,
and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts. Michael S. Stamer, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors. As of Dec. 19, 2005, the
Debtors listed $26,628,755,663 in total assets and $22,535,577,121
in total liabilities. (Calpine Bankruptcy News, Issue No. 18;
Bankruptcy Creditors' Service, Inc., 215/945-7000)
CALPINE CORP: Decatur Energy Files Schedules of Assets and Debts
----------------------------------------------------------------
A. Real Property
Generation Facility, Decatur, AL $27,716,859
Generation Facility (Roads) 661,375
B. Personal Property
B.1 Cash on hand 41
B.2 Bank Accounts
Renasant Bank Site Checking Account 953
B.13 Interests in partnerships or joint ventures undetermined
see http://ResearchArchives.com/t/s?c00
B.14 Government and Corporate Bonds undetermined
see http://ResearchArchives.com/t/s?c00
B.16 Accounts Receivable 3,524,657
B.25 Vehicles 22,019
B.28 Office equipment, furnishings and supplies 536,728
B.29 Machinery 358,413,352
see http://ResearchArchives.com/t/s?c01
B.30 Inventory 984,064
B.35 Other Personal Property 309,119
TOTAL SCHEDULED ASSETS $392,169,166
=============
C. Property Claimed as Exempt
D. Secured Claim
Morgan Stanley-1st Priority Loan 610,277,752
Morgan Stanley-2nd Priority Loan 101,088,003
Wilmington Trust-1st Priority Notes 239,075,226
Wilmington Trust-2nd Priority Notes 647,134,331
Wilmington Trust-3rd Priority Notes 699,970,844
Wilmington Trust-3rd Priority Fixed Notes 153,833,333
E. Unsecured Priority Claims undetermined
see http://ResearchArchives.com/t/s?c02
F. Unsecured Non-priority Claims
Trade payables
Barnhart Crane & Rigging Co. 29,119
Brenntag Mid S Inc. 10,337
Brownlee Morrow Engineering Co., Inc. 9,790
C & F Car Wash & Pressure Systems, Inc. 4,180
Cooks Pest Control 1,328
Phase 11 Electric, Inc. 4,730
Rental Services Corporation 2,023
Siemens Power Generation, Inc. 5,186
Superior Scaffolding & Insulation, Inc. 21,656
Tfs Energy LLC 4,850
Others 6,624
Intercompany claims
Baytown Energy Center LP (505)
CalGen Expansion Company, LLC (43,210)
Calpine Generating Company LLC 175,302,745
Calpine Oneta Power LP (2,834)
Carville Energy LLC 427
Columbia Energy LLC (3,345)
Corpus Christi Cogeneration LP 438
Freestone Power Generation LP 5,736
Morgan Energy Center LLC (393,053)
Zion Energy LLC (1,510)
Potential litigation claims
Hubbard & Drake undetermined
U.S. Environmental Protection Agency undetermined
TOTAL SCHEDULED LIABILITIES $2,626,344,202
===============
Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants. Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces. Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services. The Company filed for chapter 11 protection on
Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard
M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq.,
and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts. Michael S. Stamer, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors. As of Dec. 19, 2005, the
Debtors listed $26,628,755,663 in total assets and $22,535,577,121
in total liabilities. (Calpine Bankruptcy News, Issue No. 18;
Bankruptcy Creditors' Service, Inc., 215/945-7000).
CALPINE CORP: Freestone Power Files Schedules of Assets & Debts
---------------------------------------------------------------
A. Real Property
Generation Facility, Fairfield, TX $7,094,901
Generation Facility (Roads) 1,334,501
B. Personal Property
B.1 Cash on hand
B.2 Bank Accounts
Farmers State Disbursement Account 736
B.13 Interests in partnerships or joint venture undetermined
see http://ResearchArchives.com/t/s?c03
B.14 Government and Corporate Bonds undetermined
see http://ResearchArchives.com/t/s?c03
B.25 Vehicles 26,961
B.28 Office equipment, furnishings and supplies 177,272
B.29 Machinery 456,033,375
see http://ResearchArchives.com/t/s?c05
B.30 Inventory 1,494,306
B.35 Other Personal Property 357,112
TOTAL SCHEDULED ASSETS $466,519,164
=============
C. Property Claimed as Exempt
D. Secured Claim
Morgan Stanley-1st Priority Loan 610,277,752
Morgan Stanley-2nd Priority Loan 101,088,003
Wilmington Trust-1st Priority Notes 239,075,226
Wilmington Trust-2nd Priority Notes 647,134,331
Wilmington Trust-3rd Priority Notes 699,970,844
Wilmington Trust-3rd Priority Fixed Notes 153,833,333
E. Unsecured Priority Claims
Taxing authorities
see http://ResearchArchives.com/t/s?c06
F. Unsecured Non-priority Claims
Trade payables
3L Services, Inc. 22,025
A & E Machine Shop, Inc. 8,769
Airgas, Inc. 13,207
Applied Energy Co., Inc. 16,901
Ashland Specialty Chemical 5,011
Dilo Co., Inc. 19,203
Johnson March Systems, Inc. 9,115
Magnablend, Inc. 7,692
Plant Equipment & Services, Inc. 4,400
Red Hate Rentals 4,027
Substation Services, Inc. 14,500
Others 17,593
Intercompany claims
Baytown Energy Center LP 667
CalGen Expansion Company LLC (58,636)
Calpine Corporation 654
Calpine Generating Company LLC 152,804,082
Calpine Oneta Power LP (7,024)
Carville Energy LLC (6,600)
Columbia Energy LLC 138
Corpus Christi Cogeneration LP (8,772)
CPN Freestone LLC 79
Decatur Energy Center LLC (5,736)
Morgan Energy Center LLC (4,719)
TOTAL SCHEDULED LIABILITIES $2,604,236,067
===============
Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants. Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces. Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services. The Company filed for chapter 11 protection on
Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard
M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq.,
and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts. Michael S. Stamer, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors. As of Dec. 19, 2005, the
Debtors listed $26,628,755,663 in total assets and $22,535,577,121
in total liabilities. (Calpine Bankruptcy News, Issue No. 18;
Bankruptcy Creditors' Service, Inc., 215/945-7000)
CALPINE CORP: Geysers Power Files Schedules of Assets and Debts
---------------------------------------------------------------
A. Real Property
Geothermal Properties, Middletown, CA $213,221,836
B. Personal Property
B.1 Cash on hand
B.2 Bank Accounts
Union Bank of California Bond Accounts 630,000
B.3 Security Deposits
SCE 25,000
Verizon 8,000,000
B.13 Interests in partnerships or joint ventures undetermined
see http://ResearchArchives.com/t/s?c07
B.14 Government and Corporate Bonds undetermined
see http://ResearchArchives.com/t/s?c07
B.16 Accounts Receivable 15,988,904
B.18 Other Liquidated Debts
Other Accounts Receivables 80,902
Wachovia Bank 340,834
B.29 Machinery 97,570,128
see http://ResearchArchives.com/t/s?c08
B.30 Inventory 5,515,407
B.35 Other Personal Property 4,567,446
TOTAL SCHEDULED ASSETS $345,940,458
=============
C. Property Claimed as Exempt
D. Secured Claim
E. Unsecured Priority Claims
Taxing Authorities
see http://ResearchArchives.com/t/s?c09
F. Unsecured Non-priority Claims
Trade payables 112,863
see http://ResearchArchives.com/t/s?c0a
Intercompany claims
Calpine Corporation 49,176,935
Calpine Energy Services, LP (158,857,453)
Calpine Operating Services Company (69,507,239)
Silverado Geothermal Resources, Inc. (2,576)
Potential litigation claims
California Power Exchange Corporation undetermined
California Public Utilities Commission undetermined
County of Sonoma undetermined
Pacific Gas & Electric Company undetermined
TOTAL SCHEDULED LIABILITIES ($179,077,470)
===============
Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants. Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces. Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services. The Company filed for chapter 11 protection on
Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard
M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq.,
and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts. Michael S. Stamer, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors. As of Dec. 19, 2005, the
Debtors listed $26,628,755,663 in total assets and $22,535,577,121
in total liabilities. (Calpine Bankruptcy News, Issue No. 18;
Bankruptcy Creditors' Service, Inc., 215/945-7000)
CALPINE CORP: Mobile Energy Files Schedules of Assets and Debts
---------------------------------------------------------------
A. Real Property
Generation Facility, Mobile, AL $13,215,450
Utility Right of Way undetermined
B. Personal Property
B.1 Cash on hand 315
B.2 Bank Accounts
Compass Bank, Huntsville, AL 1,783
B.13 Business Stock and Interests undetermined
see http://ResearchArchives.com/t/s?c0b
B.14 Interests in partnerships or joint ventures undetermined
see http://ResearchArchives.com/t/s?c0b
B.16 Accounts Receivable 404
B.25 Vehicles 16,320
B.28 Office equipment, furnishings and supplies 166,704
B.29 Machinery 130,508,821
see http://ResearchArchives.com/t/s?c0c
B.30 Inventory
Hog Bayou Energy Center, Mobile, AL 638,956
B.35 Other Personal Property 118,883
TOTAL SCHEDULED ASSETS $144,667,636
=============
C. Property Claimed as Exempt -
D. Secured Claim -
E. Unsecured Priority Claims undetermined
see http://ResearchArchives.com/t/s?c0d
F. Unsecured Non-priority Claims
Trade Payables
Abita Springs Water Co 31
Airgas Inc 1,161
International Fire Protection Inc 2,997
Office Depot Credit Plan 240
Severn Trent Laboratories Inc 110
Tower Performance Inc 3,006
Intercompany Claims
Calpine Corporation 188,206,315
Calpine Eastern Corporation 116,670
Calpine Fox LLC (6,721)
Calpine Operating Services 75,414
Calpine Project Holdings, Inc. (1,583,858)
Los Esteros Critical Energy (16,899)
Pastoria Energy Facility L.L.C. (3,767)
TOTAL SCHEDULED LIABILITIES $186,794,699
=============
Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants. Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces. Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services. The Company filed for chapter 11 protection on
Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard
M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq.,
and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts. Michael S. Stamer, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors. As of Dec. 19, 2005, the
Debtors listed $26,628,755,663 in total assets and $22,535,577,121
in total liabilities. (Calpine Bankruptcy News, Issue No. 18;
Bankruptcy Creditors' Service, Inc., 215/945-7000)
CALPINE CORP: Morgan Energy Files Schedules of Assets and Debts
---------------------------------------------------------------
A. Real Property
Generation Facility, Decatur, AL $34,318,598
Right of Way undetermined
B. Personal Property
B.1 Cash on hand 258
B.2 Bank Accounts 414
B.13 Business stock and interests undetermined
see http://ResearchArchives.com/t/s?c0e
B.14 Interests in partnerships or joint ventures undetermined
see http://ResearchArchives.com/t/s?c0e
B.16 Accounts Receivable 395,151
B.28 Office equipment, furnishings and supplies 433,342
B.29 Machinery 355,208,301
see http://ResearchArchives.com/t/s?c0f
B.30 Inventory 1,411,786
B.35 Other Personal Property 255,435
TOTAL SCHEDULED ASSETS $392,023,285
=============
C. Property Claimed as Exempt -
D. Secured Claim
Morgan Stanley-1st Priority Term Loan 610,277,752
Morgan Stanley-2nd Priority Term Loan 101,088,003
Wilmington Trust-1st Priority Notes 239,075,226
Wilmington Trust-2nd Priority Notes 647,134,331
Wilmington Trust-3rd Priority Notes 699,970,844
Wilmington Trust-3rd Priority Fixed Notes 153,833,333
E. Unsecured Priority Claims undetermined
see http://ResearchArchives.com/t/s?c10
F. Unsecured Non-priority Claims
Trade Payables
Adem State of Alabama 4,364
American Moistening Co 3,537
Consolidated Pipe & Supply Co Inc 69,028
Ferguson Enterprises Inc 25,324
Fisher Controls Intl Inc 14,296
Hubbard & Drake 56,567
Regional Valve Corp 4,505
Tfs Energy LLC 3,325
Others 19,622
Intercompany Claims
Baytown Energy Center, LP (236)
CalGen Expansion Company, LLC (34,160)
Calpine Generating Company, LLC 164,281,443
Calpine Oneta Power, L.P. 3,947
Carville Energy LLC 2,145
Columbia Energy LLC (645)
Corpus Christi Cogeneration L.P. 2,177
Decatur Energy Center, LLC 393,053
Delta Energy Center, LLC 578
Freestone Power Generation LP 4,719
Potential Litigation Claims
BP Amoco undetermined
BP Amoco Chemicals undetermined
Hubbard & Drake undetermined
Tennessee Valley Authority undetermined
TOTAL SCHEDULED LIABILITIES $2,616,213,456
===============
Headquartered in San Jose, California, Calpine Corporation --
http://www.calpine.com/-- supplies customers and communities with
electricity from clean, efficient, natural gas-fired and
geothermal power plants. Calpine owns, leases and operates
integrated systems of plants in 21 U.S. states and in three
Canadian provinces. Its customized products and services include
wholesale and retail electricity, gas turbine components and
services, energy management and a wide range of power plant
engineering, construction and maintenance and operational
services. The Company filed for chapter 11 protection on
Dec. 20, 2005 (Bankr. S.D.N.Y. Lead Case No. 05-60200). Richard
M. Cieri, Esq., Matthew A. Cantor, Esq., Edward Sassower, Esq.,
and Robert G. Burns, Esq., Kirkland & Ellis LLP represent the
Debtors in their restructuring efforts. Michael S. Stamer, Esq.,
at Akin Gump Strauss Hauer & Feld LLP, represents the Official
Committee of Unsecured Creditors. As of Dec. 19, 2005, the
Debtors listed $26,628,755,663 in total assets and $22,535,577,121
in total liabilities. (Calpine Bankruptcy News, Issue No. 18;
Bankruptcy Creditors' Service, Inc., 215/945-7000)
ENTERGY NEW ORLEANS: Earns $1.1 Million in April 2006
-----------------------------------------------------
Entergy New Orleans, Inc.
Balance Sheet
As of April 30, 2006
(in thousands)
ASSETS
Current Assets:
Cash and cash equivalents $26,591
Temporary cash investments -
----------
Total cash and cash equivalents 26,591
Accounts receivable:
Customer 80,332
Allowance for doubtful accounts (23,637)
Associated companies 12,205
Other 6,365
Accrued unbilled revenues 17,242
----------
Total accounts receivable 92,507
Deferred fuel costs 28,804
Fuel inventory 639
Materials and supplies 6,754
Prepayments and other 12,290
----------
Total current assets 167,585
Other Property and Investments
Investment in affiliates 3,259
Non-utility property at cost 1,107
----------
Total other property and investments 4,366
Utility Plant
Electric 751,429
Natural gas 191,363
Construction work in progress 43,590
----------
Total Utility Plant 986,382
Less - accumulated depreciation and amortization 436,947
----------
Utility plant - net 549,435
Deferred Debits and Other Assets
Regulatory assets:
Other regulatory assets 164,795
Long term receivables 1,090
Other 22,708
----------
Total deferred debits and other assets 188,593
----------
TOTAL ASSETS $909,979
==========
LIABILITIES:
Postpetition liabilities:
Taxes payable $2,573
Accounts payable 46,998
DIP credit facility 22,000
----------
Total postpetition liabilities 71,571
Current liabilities:
Currently maturing long-term debt -
Notes payable 15,000
Accounts payable:
Associated companies 56,919
Other 94,438
Customer deposits 12,989
Taxes accrued -
Accumulated deferred income taxes 1,251
Interest accrued 3,046
Energy efficiency program provision -
Other 4,499
----------
Total current liabilities 188,142
Non-current liabilities:
Accumulated deferred income taxes & taxes accrued 130,795
Accumulated deferred investment tax credits 3,429
SFAS 109 regulatory liability - net 58,417
Other regulatory liabilities -
Accumulated provisions 7,954
Pension liability 38,636
Long-term debt 229,864
Other 6,996
----------
Total non-current liabilities 476,804
----------
Total Liabilities 735,804
Commitments and Contingencies:
SHAREHOLDERS' EQUITY
Preferred stock without sinking fund 19,780
Common stock, $4 par value, authorized
10,000,000 shares; issued and
outstanding 8,435,900 shares in
2005 and 2004 33,744
Paid-in capital 36,294
Retained earnings -- prepetition 99,593
Retained earnings -- postpetition (15,236)
----------
Total shareholders equity 174,175
----------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY $909,979
==========
Entergy New Orleans, Inc.
Statement of Operations
Month Ended April 30, 2006
(in thousands)
Operating Revenues
Domestic electric $31,596
Natural gas 5,579
----------
Total operating revenues 37,175
Operating Expenses:
Operation and maintenance
Fuel 4,361
Purchased power 21,019
Other operation and maintenance 7,812
Taxes other than income taxes 2,199
Depreciation and amortization 2,779
Other regulatory charges - net 299
----------
Total operating expenses 38,469
----------
Operating income (1,294)
Other income:
Allowance for equity funds used
during construction 52
Interest and dividend income 240
Miscellaneous - net 50
----------
Total other income 342
Interest and other charges:
Interest on long-term debt 62
Other interest-net 697
Allowance for borrowed funds used
during construction (41)
----------
Total interest and other charges 718
Income (loss) before income taxes (1,670)
Income taxes (491)
----------
NET INCOME $1,179
==========
Entergy New Orleans, Inc.
Cash Receipts and Disbursement Statement
Month Ended April 30, 2006
Beginning cash balance $25,529,683
Cash receipts 120,002,046
Cash disbursements (118,940,360)
-----------
Net cash flow [1,061,686]
-----------
ENDING CASH BALANCE $26,591,368
============
Headquartered in Baton Rouge, Louisiana, Entergy New Orleans Inc.
-- http://www.entergy-neworleans.com/-- is a wholly owned
subsidiary of Entergy Corporation. Entergy New Orleans provides
electric and natural gas service to approximately 190,000 electric
and 147,000 gas customers within the city of New Orleans. Entergy
New Orleans is the smallest of Entergy Corporation's five utility
companies and represents about 7% of the consolidated revenues and
3% of its consolidated earnings in 2004. Neither Entergy
Corporation nor any of Entergy's other utility and non-utility
subsidiaries were included in Entergy New Orleans' bankruptcy
filing. Entergy New Orleans filed for chapter 11 protection on
Sept. 23, 2005 (Bankr. E.D. La. Case No. 05-17697). Elizabeth J.
Futrell, Esq., and R. Partick Vance, Esq., at Jones, Walker,
Waechter, Poitevent, Carrere & Denegre, L.L.P., represent the
Debtor in its restructuring efforts. When the Debtor filed for
protection from its creditors, it listed total assets of
$703,197,000 and total debts of $610,421,000. (Entergy New
Orleans Bankruptcy News, Issue No. 18; Bankruptcy Creditors'
Service, Inc., 215/945-7000)
INTERSTATE BAKERIES: Earns $7.5 Million for Period Ended April 29
-----------------------------------------------------------------
Interstate Bakeries Corporation and Subsidiaries
Unaudited Consolidated Monthly Operating Report
Four Weeks Ended April 29, 2006
REVENUE
Gross Income $225,659,272
Less Cost of Goods Sold
Ingredients, Packaging & Outside Purchasing 56,000,847
Direct & Indirect Labor 42,923,470
Overhead & Production Administration 11,640,578
------------
Total Cost of Goods Sold 110,564,895
------------
Gross Profit $115,094,377
------------
OPERATING EXPENSES
Owner-Draws/Salaries -
Selling & Delivery Employee Salaries $54,046,250
Advertising and Marketing 3,901,354
Insurance (Property, Casualty, & Medical) 11,743,545
Payroll Taxes 4,539,698
Lease and Rent 3,593,172
Telephone and Utilities 1,426,596
Corporate Expense (Including Salaries) 6,300,100
Other Expenses 29,540,791
------------
Total Operating Expenses $115,091,506
------------
EBITDA ($2,871)
Restructuring & Reorganization Charges (1,925,179)
Depreciation and Amortization 5,703,640
Other( Income)/Expense (1,884)
Gain/Loss Sale of Property -
Interest Expense 4,059,149
------------
Operating Income (Loss) (7,832,855)
Income Tax Expense (Benefit) (318,084)
------------
Net Income (Loss) $7,514,771
============
CURRENT ASSETS
Accounts Receivable at end of period $145,016,470
Increase (Dec.) in Accounts Receivable (3,539,409)
Inventory at end of period 63,727,879
Increase (Decrease) in Inventory for period 1,697,472
Cash at end of period 93,944,637
Increase (Decrease) in Cash for period (2,071,939)
Restricted Cash 83,864,426
Increase (Dec.) in Restricted Cash for period 7,186,490
LIABILITIES
Increase (Decrease) in Liabilities
Not Subject to Compromise 2,335,941
Increase (Decrease) in Liabilities
Subject to Compromise 51,693
Taxes payable:
Federal Payroll Taxes 10,048,672
State/Local Payroll Taxes 2,124,792
State Sales Taxes 771,413
Real Estate and Personal Property Taxes 15,731,359
Other 7,299,935
------------
Total Taxes Payable $35,976,171
============
Headquartered in Kansas City, Missouri, Interstate Bakeries
Corporation is a wholesale baker and distributor of fresh baked
bread and sweet goods, under various national brand names,
including Wonder(R), Hostess(R), Dolly Madison(R), Baker's Inn(R),
Merita(R) and Drake's(R). The Company employs approximately
32,000 in 54 bakeries, more than 1,000 distribution centers and
1,200 thrift stores throughout the U.S. The Company and seven of
its debtor-affiliates filed for chapter 11 protection on
September 22, 2004 (Bankr. W.D. Mo. Case No. 04-45814). J. Eric
Ivester, Esq., and Samuel S. Ory, Esq., at Skadden, Arps, Slate,
Meagher & Flom LLP, represent the Debtors in their restructuring
efforts. When the Debtors filed for protection from their
creditors, they listed $1,626,425,000 in total assets and
$1,321,713,000 (excluding the $100,000,000 issue of 6.0% senior
subordinated convertible notes due August 15, 2014 on August 12,
2004) in total debts. (Interstate Bakeries Bankruptcy News, Issue
No. 42; Bankruptcy Creditors' Service, Inc., 215/945-7000)
MUSICLAND HOLDING: Posts $11.1 Million Net Loss in May 2006
-----------------------------------------------------------
Musicland Holding Corp.
Consolidated Balance Sheet
As of May 31, 2006
ASSETS
Current Assets
Cash $56,112,000
Inventories 0
Other
Final Installment due to Transworld 11,564,000
Expense Reimbursement from Transworld 291,000
Receivables from Entertainment Weekly 0
Receivables from Sub-leases 637,000
Prepaid expenses 0
Receivables from HilCo 652,000
Miscellaneous CC 73,000
Vendor Deposits 3,795,000
Pre-paid Rent 66,000
------------
Total 73,190,000
------------
Fixed Assets 0
Other assets
Transport Logistic deposit 600,000
Utility and Tax Deposits 296,000
------------
TOTAL ASSETS $74,086,000
============
Liabilties & Shareholders' deficit
Current liabilities
Accounts payable
Due to Transworld 779,000
Due to Deluxe 0
A/P 64,000
Other accrued liabilities
Accrued Bank Fee 0
Accrued Insurance 0
HilCo payable 225,000
Logistic Accrual 415,000
Deferred Income 500,000
Insurance Reserve 4,663,000
Accrued Payroll & Employee Benefits:
Accrued Vacation 874,000
Accrued Severance 2,804,000
Accrued Employer Payroll Taxes 773,000
Accrued Benefits 1,664,000
May Payroll Accrual 779,000
Sales Tax 522,000
5% Admin. Fee on Wachovia L/C 251,000
Miscellaneous 85,000
Gift Card liabilities 0
------------
Total 14,398,000
------------
DIP financing 0
Other LT Liabilities 0
Liabilities subject to compromise 352,958,000
Shareholders' deficit (293,270,000)
-----------
TOTAL LIABILITIES &
SHAREHOLDERS' DEFICIT $74,086,000
============
Musicland Holding Corp.
Consolidated Statement of Operations
For the Month Ended May 31, 2006
Merchandise revenue -
Non-merchandise revenue -
------------
Net sales -
Cost of good sold -
------------
Gross Profit -
------------
Store operating expenses
Payroll -
Occupancy -
Other -
------------
Store expenses -
Other operating expenses
Net advertising expense -
Logistics -
Field administration & others -
------------
Operating expenses -
------------
General & administrative $1,168,000
------------
EBITDA (Loss) (1,168,000)
------------
Hilco 340 Store GOB (1,078,000)
Chapter 11 & related charges 8,397,000
Sale to Transworld (16,255,000)
Hilco 65 (48,000)
Media Play Wind down (444,000)
Depreciation & Amortization 0
------------
Operating income (Loss) (10,596,000)
------------
Interest income (expense) 316,000
Other non-operating charges (631,000)
------------
Earnings before Taxes (10,912,000)
------------
Income tax 215,000
------------
Net earnings (Loss) ($11,127,000)
============
Musicland Holding Corp.
Consolidated Statement of Cash Flow
For the Month Ended May 31, 2006
Operating activities
Net earnings (Loss) ($11,127,000)
Adjustments to reconcile net earnings (loss)
to net cash provided by (used in)
operating activities 5,885,000
Changes in operating assets & liabilities
Inventory 0
Other current assets 1,625,000
Accounts payable (1,399,000)
Other operating liabilities (3,314,000)
Gift card liability 0
Liabilities subject to compromise (1,421,000)
------------
Net cash provided by (used in)
operating activities (9,751,000)
------------
Investing activities
Change in other long term asset/liabilities -
Retirement of fixed assets -
------------
Net cash provided by (used in)
investing activities -
------------
Financing activities
Revolver borrowings -
------------
Increase/decrease in cash (9,751,000)
------------
Cash at the beginning of Period 65,863,000
------------
Cash at the end of Period $56,112,000
============
Headquartered in New York City, Musicland Holding Corp., is a
specialty retailer of music, movies and entertainment-related
products. The Debtor and 14 of its affiliates filed for chapter
11 protection on Jan. 12, 2006 (Bankr. S.D.N.Y. Lead Case No.
06-10064). James H.M. Sprayregen, Esq., at Kirkland & Ellis,
represents the Debtors in their restructuring efforts. Mark T.
Power, Esq., at Hahn & Hessen LLP, represents the Official
Committee of Unsecured Creditors. When the Debtors filed for
protection from their creditors, they estimated more than US$100
million in assets and debts. (Musicland Bankruptcy News, Issue
No. 13; Bankruptcy Creditors' Service, Inc., 215/945-7000)
NEWPOWER HOLDINGS: Files Monthly Report for Period Ended April 30
-----------------------------------------------------------------
On June 15, 2006, NewPower Holdings, Inc., filed its Monthly
Operating Report for the period from Mar. 31, 2006, to Apr. 30,
2006, with the U.S. Bankruptcy Court for the Northern District of
Georgia, Newnan Division. The company reports an opening cash
balance of $51,249,000 and a closing cash balance of $51,210,000.
A full-text copy of NewPower Holdings, Inc.'s Monthly Operating
Report for the period from Mar. 31, 2006, to Apr. 30, 2006, is
available at no charge at http://ResearchArchives.com/t/s?c13
NewPower Holdings, Inc., and its debtor-affiliates filed for
chapter 11 protection on June 11, 2002 (Bankr. N.D. Ga. 02-10836).
Paul K. Ferdinands, Esq., at King & Spalding and William M.
Goldman, Esq., at Sidley Austin Brown & Wood LLP represent the
Debtors. When the Debtors filed for chapter 11 protection, they
reported $231,837,000 in assets and $87,936,000 in debts.
On Aug. 15, 2003, the United States Bankruptcy Court for the
Northern District of Georgia, Newnan Division, confirmed the
Second Amended Chapter 11 Plan with respect to NewPower Holdings,
Inc., and TNPC Holdings, Inc., a wholly owned subsidiary of the
Company. On Feb. 28, 2003, the Bankruptcy Court previously
confirmed the Plan, and the Plan has been effective as of
March 11, 2003, with respect to The New Power Company, a wholly
owned subsidiary of the Company. The Plan became effective on
Oct. 9, 2003, with respect to the Company and TNPC.
REFCO INC: Files May 2006 Monthly Operating Report
--------------------------------------------------
Refco, Inc., and its debtor-affiliates delivered to the United
States Bankruptcy Court for the Southern District of New York a
monthly statement of their cash receipts and disbursements for the
period from May 1 to 31, 2006.
Peter F. James, controller of Refco, reports that the company
holds a beginning cash balance of $1,072,011,000 during the
reporting period. Refco received $300,078,000 in cash and made a
$14,557,000 disbursement. Refco's ending cash balance totals
$1,357,532,000.
As paying agent for certain non-debtors and Refco, LLC, the
Debtors disbursed approximately $5,300,000.
Refco paid $691,000 in gross wages, of which $319,000 was paid on
Behalf of and reimbursed by the Non-Debtors and Refco LLC.
Mr. James discloses that Refco withheld $1,172,000 of employee
payroll taxes, of which $152,000 was remitted to a third party
vendor.
Mr. James states that all taxes due and owing, as well as tax
returns, have been paid and filed for the current period.
Refco paid $3,176,000 for professional fees for May, and
$10,821,000 since the Petition Date. The Debtors did not pay
professional fees on Refco LLC's behalf.
Refco has filed the Monthly Report in lieu of comprehensive
financial statements.
A full-text copy of Refco's May 2006 Monthly Statement is
available at no charge at http://ResearchArchives.com/t/s?bef
Based in New York, New York, Refco Inc. -- http://www.refco.com/
-- is a diversified financial services organization with
operations in 14 countries and an extensive global institutional
and retail client base. Refco's worldwide subsidiaries are
members of principal U.S. and international exchanges, and are
among the most active members of futures exchanges in Chicago, New
York, London and Singapore. In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products. Refco is one of
the largest global clearing firms for derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors. Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.
Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134). Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada. Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.
Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262). (Refco Bankruptcy News, Issue
No. 33; Bankruptcy Creditors' Service, Inc., 215/945-7000).
REFCO INC: Refco LLC's Operating Report for Period Ended Dec. 31
----------------------------------------------------------------
Albert Togut, the Court-appointed Chapter 7 Trustee for the
Refco, LLC estate, delivered to the U.S. Bankruptcy Court a
monthly statement of cash receipts and disbursements for the
period from November 25 to December 31, 2005.
Mr. Togut relates that on October 9, 2005, after consultation by
the Audit Committee of Refco, Inc., with its independent
accountants, Refco determined that its financial statements, as
of, and for the periods ended, February 28, 2002, February 28,
2003, February 28, 2004, February 28, 2005, and May 31, 2005,
taken as a whole, should no longer be relied upon.
As a result, Refco and its subsidiaries, including Refco LLC, did
not issue financial statements since the Petition Date.
On cash basis of accounting, Mr. Togut reports that Refco LLC has
received cash totaling $840,265,000 and disbursed $181,776,000
during the Reporting Period. Refco LLC's ending cash balance as
of December 31, 2005, totals $658,489,000.
Refco LLC reimbursed $175,000 to Refco Capital LLC for gross
payroll costs allocated to the company's estate for time spent by
employees of other Refco entities relating to the administration
of Refco LLC's Chapter 7 case.
Mr. Togut states that Refco Capital is responsible for remitting
all wages, withholding taxes and benefit payments to the
appropriate entities and taxing authorities.
Mr. Togut tells Judge Drain that as a limited liability company
with a single member, Refco LLC is considered a "disregarded
entity" for federal and state income tax purposes, and,
therefore, has no liability for federal income tax and most other
taxes.
In connection with the Sale of Refco LLC's assets to Man
Financial, Mr. Togut is continuing to review any tax liabilities
that may have arisen in conjunction with that transaction.
A full-text copy of Refco LLC's November-December 2005 Monthly
Statement is available at no charge at:
http://ResearchArchives.com/t/s?bf0
Based in New York, New York, Refco Inc. -- http://www.refco.com/
-- is a diversified financial services organization with
operations in 14 countries and an extensive global institutional
and retail client base. Refco's worldwide subsidiaries are
members of principal U.S. and international exchanges, and are
among the most active members of futures exchanges in Chicago, New
York, London and Singapore. In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products. Refco is one of
the largest global clearing firms for derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors. Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.
Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134). Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada. Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.
Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262). (Refco Bankruptcy News, Issue
No. 33; Bankruptcy Creditors' Service, Inc., 215/945-7000).
REFCO INC: Refco LLC Files January 2006 Monthly Operating Report
----------------------------------------------------------------
In lieu of comprehensive financial statements, Albert Togut, the
Court-appointed Chapter 7 Trustee for the Refco, LLC estate,
filed a monthly statement of cash receipts and disbursements for
the period from January 1 to 31, 2006.
Mr. Togut reports that Refco LLC received $70,842,000 in cash and
disbursed $3,223,000 during the Reporting Period. Refco LLC's
ending balance totals $725,748,000.
Refco LLC also reimbursed $36,000 to Refco Capital LLC for gross
payroll costs allocated to the company's estate for time spent by
employees of other Refco entities relating to the administration
of Refco LLC's Chapter 7 case.
A full-text copy of Refco LLC's January 2006 Monthly Statement is
available at no charge at http://ResearchArchives.com/t/s?bf1
Based in New York, New York, Refco Inc. -- http://www.refco.com/
-- is a diversified financial services organization with
operations in 14 countries and an extensive global institutional
and retail client base. Refco's worldwide subsidiaries are
members of principal U.S. and international exchanges, and are
among the most active members of futures exchanges in Chicago, New
York, London and Singapore. In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products. Refco is one of
the largest global clearing firms for derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors. Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.
Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134). Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada. Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.
Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262). (Refco Bankruptcy News, Issue
No. 33; Bankruptcy Creditors' Service, Inc., 215/945-7000).
REFCO INC: Refco LLC Files February 2006 Monthly Operating Report
-----------------------------------------------------------------
Albert Togut, the Court-appointed Chapter 7 Trustee for the Refco,
LLC estate, informs the Bankruptcy Court that the company is
unable to issue comprehensive financial statements at this time.
Accordingly, Mr. Togut has prepared on cash basis a monthly
statement of cash receipts and disbursements for the period from
February 1 to 28, 2006.
Mr. Togut reports that Refco LLC received $6,574,000 in cash and
disbursed $1,196,000 during the Reporting Period. The company's
ending balance as of February 28, 2006, totals $730,327,000.
Refco LLC reimbursed $36,000 to Refco Capital LLC for gross
payroll costs.
A full-text copy of Refco LLC's February 2006 Monthly Statement
is available at no charge at http://ResearchArchives.com/t/s?bf2
Based in New York, New York, Refco Inc. -- http://www.refco.com/
-- is a diversified financial services organization with
operations in 14 countries and an extensive global institutional
and retail client base. Refco's worldwide subsidiaries are
members of principal U.S. and international exchanges, and are
among the most active members of futures exchanges in Chicago, New
York, London and Singapore. In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products. Refco is one of
the largest global clearing firms for derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors. Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.
Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134). Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada. Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.
Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262). (Refco Bankruptcy News, Issue
No. 33; Bankruptcy Creditors' Service, Inc., 215/945-7000).
REFCO INC: Refco LLC Files March 2006 Monthly Operating Report
--------------------------------------------------------------
Refco, LLC Chapter 7 Trustee Albert Togut reports that Refco LLC
received $21,472,000 in cash and disbursed $3,165,000 for the
period from March 1 to 31, 2006. Refco LLC's ending cash balance
totals $748,634,000.
Refco LLC reimbursed $33,000 to Refco Capital LLC for gross
payroll costs during the Reporting Period.
Mr. Togut prepared the Statement of Receipts and Disbursements in
lieu of comprehensive financial statements.
A full-text copy of Refco LLC's March 2006 Monthly Statement is
available at no charge at http://ResearchArchives.com/t/s?bf3
Based in New York, New York, Refco Inc. -- http://www.refco.com/
-- is a diversified financial services organization with
operations in 14 countries and an extensive global institutional
and retail client base. Refco's worldwide subsidiaries are
members of principal U.S. and international exchanges, and are
among the most active members of futures exchanges in Chicago, New
York, London and Singapore. In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products. Refco is one of
the largest global clearing firms for derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors. Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.
Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134). Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada. Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.
Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262). (Refco Bankruptcy News, Issue
No. 33; Bankruptcy Creditors' Service, Inc., 215/945-7000).
REFCO INC: Refco LLC Files April 2006 Monthly Operating Report
--------------------------------------------------------------
Refco, LLC Chapter 7 Trustee Albert Togut filed a monthly
statement of cash receipts and disbursements for the period from
April 1 to 30, 2006.
Mr. Togut tells Judge Drain that Refco LLC received $28,169,000
in cash and disbursed $7,103,000 during the period. The
company's ending cash balance totals $768,367,000.
Refco LLC reimbursed Refco Capital LLC, for $167,000 in gross
payroll costs allocated to the Chapter 7 Debtor's estate for time
spent by employees of other Refco, Inc. entities.
Mr. Togut prepared the Statement of Receipts and Disbursements in
lieu of comprehensive financial statements.
A full-text copy of Refco LLC's April 2006 Monthly Statement is
available at no charge at http://ResearchArchives.com/t/s?bf4
Based in New York, New York, Refco Inc. -- http://www.refco.com/
-- is a diversified financial services organization with
operations in 14 countries and an extensive global institutional
and retail client base. Refco's worldwide subsidiaries are
members of principal U.S. and international exchanges, and are
among the most active members of futures exchanges in Chicago, New
York, London and Singapore. In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products. Refco is one of
the largest global clearing firms for derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors. Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.
Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134). Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada. Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.
Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262). (Refco Bankruptcy News, Issue
No. 33; Bankruptcy Creditors' Service, Inc., 215/945-7000).
REFCO INC: Lind-Waldock Files Schedules of Assets and Liabilities
-----------------------------------------------------------------
A. Real property $0
B. Personal property 0
TOTAL SCHEDULED ASSETS $0
====
C. Property claimed as exempt Not applicable
D. Secured claims
Bank of America, N.A. $642,000,000
E. Unsecured priority claims 0
F. Unsecured non-priority claims
Wells Fargo Corporate Trust Services $390,000,000
Litigation Claims 0
TOTAL SCHEDULED LIABILITIES $1,032,000,000
===============
Based in New York, New York, Refco Inc. -- http://www.refco.com/
-- is a diversified financial services organization with
operations in 14 countries and an extensive global institutional
and retail client base. Refco's worldwide subsidiaries are
members of principal U.S. and international exchanges, and are
among the most active members of futures exchanges in Chicago, New
York, London and Singapore. In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products. Refco is one of
the largest global clearing firms for derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors. Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.
Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134). Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada. Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.
Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262). (Refco Bankruptcy News, Issue
No. 33; Bankruptcy Creditors' Service, Inc., 215/945-7000).
REFCO INC: Refco Managed Futures Files Schedules of Assets & Debts
------------------------------------------------------------------
A. Real property $0
B. Personal property 0
TOTAL SCHEDULED ASSETS $0
=====
C. Property claimed as exempt Not applicable
D. Secured claims
Bank of America, N.A. $642,000,000
E. Unsecured priority claims 0
F. Unsecured non-priority claims
Wells Fargo Corporate Trust Services $390,000,000
Refco Capital, LLC 3,345,960
Litigation Claims 0
TOTAL SCHEDULED LIABILITIES $1,035,345,960
===============
Based in New York, New York, Refco Inc. -- http://www.refco.com/
-- is a diversified financial services organization with
operations in 14 countries and an extensive global institutional
and retail client base. Refco's worldwide subsidiaries are
members of principal U.S. and international exchanges, and are
among the most active members of futures exchanges in Chicago, New
York, London and Singapore. In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products. Refco is one of
the largest global clearing firms for derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors. Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.
Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134). Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada. Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.
Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262). (Refco Bankruptcy News, Issue
No. 33; Bankruptcy Creditors' Service, Inc., 215/945-7000).
REFCO INC: Westminster Files Schedules of Assets and Liabilities
----------------------------------------------------------------
A. Real property $0
B. Personal property
B.13. Stock interests
Investment in subsidiaries 1,888,642
B.16 Accounts receivable
Refco Capital, LLC 29,388
Refco Fund Holdings, LLC 0
B.21 Other contingent and unliquidated claims
TOTAL SCHEDULED ASSETS $1,918,030
===========
C. Property claimed as exempt Not applicable
D. Secured claims
Bank of America, N.A. $642,000,000
E. Unsecured priority claims 0
F. Unsecured non-priority claims
Wells Fargo Corporate Trust Services $390,000,000
Intercompany liabilities:
Refco Capital, LLC 0
Refco Fund Holdings, LLC 386,039
Litigation Claims 0
TOTAL SCHEDULED LIABILITIES $1,032,386,039
===============
Based in New York, New York, Refco Inc. -- http://www.refco.com/
-- is a diversified financial services organization with
operations in 14 countries and an extensive global institutional
and retail client base. Refco's worldwide subsidiaries are
members of principal U.S. and international exchanges, and are
among the most active members of futures exchanges in Chicago, New
York, London and Singapore. In addition to its futures brokerage
activities, Refco is a major broker of cash market products,
including foreign exchange, foreign exchange options, government
securities, domestic and international equities, emerging market
debt, and OTC financial and commodity products. Refco is one of
the largest global clearing firms for derivatives.
The Company and 23 of its affiliates filed for chapter 11
protection on Oct. 17, 2005 (Bankr. S.D.N.Y. Case No. 05-60006).
J. Gregory Milmoe, Esq., at Skadden, Arps, Slate, Meagher & Flom
LLP, represent the Debtors in their restructuring efforts. Luc A.
Despins, Esq., at Milbank, Tweed, Hadley & McCloy LLP, represents
the Official Committee of Unsecured Creditors. Refco reported
$16.5 billion in assets and $16.8 billion in debts to the
Bankruptcy Court on the first day of its chapter 11 cases.
Refco LLC, an affiliate, filed for chapter 7 protection on
Nov. 25, 2005 (Bankr. S.D.N.Y. Case No. 05-60134). Refco, LLC, is
a regulated commodity futures company that has businesses in the
United States, London, Asia and Canada. Refco, LLC, filed for
bankruptcy protection in order to consummate the sale of
substantially all of its assets to Man Financial Inc., a wholly
owned subsidiary of Man Group plc.
Three more affiliates of Refco, Westminster-Refco Management LLC,
Refco Managed Futures LLC, and Lind-Waldock Securities LLC, filed
for chapter 11 protection on June 6, 2006 (Bankr. S.D.N.Y. Case
Nos. 06-11260 through 06-11262). (Refco Bankruptcy News, Issue
No. 33; Bankruptcy Creditors' Service, Inc., 215/945-7000).
SONICBLUE INC: Files April 2006 Monthly Operating Report
--------------------------------------------------------
On June 20, 2006, SONICblue Incorporated reports that it is
sitting on $78,604,892 of cash, has accrued $1,370,210 in
postpetition liabilities and faces a $236,604,166 mountain of
prepetition debts.
A full-text copy of SONICblue Inc.'s April 2006 Operating
Report is available at no charge at
http://ResearchArchives.com/t/s?c14
Headquartered in Santa Clara, California, SONICblue Incorporated
is involved in the converging Internet, digital media,
entertainment and consumer electronics markets. The Company,
together with three of its wholly owned subsidiaries, Diamond
Multimedia Systems, Inc., ReplayTV, Inc., and Sensory Science
Corporation, filed for chapter 11 protection on Mar. 21, 2003
(Bankr. N.D. Calif. Case Nos. 03-51775 to 03-51778). Craig A.
Barbarosh, Esq., at the LAw Offices of Pillsbury Winthrop,
represents the Debtors in their restructuring efforts. When the
Debtors filed for protection from their creditors, they listed
assets totaling $342,871,000 and debts totaling $335,473,000.
WINN-DIXIE: Earns $36.5 Million in May 2006
-------------------------------------------
Winn-Dixie Stores, Inc., et al.
Unaudited Consolidated Balance Sheet
At May 31, 2006
(In Thousands)
Assets
Current Assets:
Cash and cash equivalents $161,443
Marketable securities 14,285
Trade and other receivables, net 147,639
Insurance claims receivable 44,394
Income tax receivable 30,382
Merchandise inventories, net 448,810
Prepaid expenses and other current assets 36,042
Assets held for sale 30,885
----------
Total current assets 913,880
Property, plant and equipment, net 513,072
Other assets, net 115,476
----------
Total assets $1,542,428
==========
Liabilities and Shareholders' Deficit
Current liabilities:
Current borrowings under DIP Credit facility $40,000
Current portion of long-term debt 230
Current obligations under capital leases 3,487
Accounts payable 212,687
Reserve for self-insurance liabilities 88,296
Accrued wages and salaries 74,237
Accrued rent 29,730
Accrued expenses 111,719
Liabilities related to assets held for sale 6,835
----------
Total current liabilities 567,221
Reserve for self-insurance liabilities 144,077
Long-term debt 184
Obligations under capital leases 4,125
Other liabilities 15,715
----------
Total liabilities not subject to compromise 731,322
Liabilities subject to compromise 1,139,164
----------
Total liabilities 1,870,486
Shareholders' deficit:
Common stock 141,858
Additional paid-in capital 34,670
Accumulated deficit (470,606)
Accumulated other comprehensive loss (33,980)
----------
Total shareholders' deficit (328,058)
----------
Total liabilities and shareholders' deficit $1,542,428
==========
Winn-Dixie Stores, Inc., et al.
Unaudited Consolidated Statement of Operations
Four Weeks Ended May 31, 2006
(In Thousands)
Net sales $557,944
Cost of sales 408,070
----------
Gross profit on sales 149,874
Other operating and administrative expenses 157,381
Restructuring gains (2,521)
----------
Operating loss (4,986)
Interest expense, net 222
----------
Loss before reorganization items and income taxes (5,208)
Reorganization items, net gains (8,989)
Income tax expense -
----------
Net earnings from continuing operations 3,781
Discontinued operations:
Loss from discontinued operations (1,696)
Gain on disposal of discontinued operations 34,434
Income tax expense -
----------
Net earnings from discontinued operations 32,738
----------
Net earnings $36,519
==========
Winn-Dixie Stores, Inc., et al.
Unaudited Consolidated Statement of Cash Flows
Four Weeks Ended May 31, 2006
(In Thousands)
Cash flows from operating activities
Net earnings $36,519
Adjustment to reconcile net loss to
net cash provided by operating activities:
Gain on sales of assets, net (8,300)
Reorganization items, net (8,989)
Depreciation and amortization 7,770
Stock compensation plans 545
Change in operating assets and liabilities:
Trade and other receivables 9,626
Merchandise inventories 9,329
Prepaid expenses and other current assets 8,520
Accounts payable (17,446)
Reserve for self-insurance liabilities (1,172)
Lease liability on closed facilities (41,536)
Income taxes receivable 23
Defined benefit plan 352
Other accrued expenses 13,701
----------
Net cash provided by operating activities
before reorganization items 8,942
Cash effect of reorganization items (3,531)
----------
Net cash provided by operating activities 5,411
----------
Cash flows from investing activities:
Purchases of property, plant and equipment (2,960)
Increase in investments and other assets (1,232)
Proceeds from sales of assets 10,616
Purchases of marketable securities (1,304)
Sales of marketable securities 272
Other 980
----------
Net cash used in investing activities 6,372
----------
Cash flows from financing activities
Gross borrowings on DIP Credit Facility 154
Gross payments on DIP Credit Facility (1,123)
Principal payments on capital lease obligations (119)
Other 165
----------
Net cash used in financing activities (923)
----------
Increase in cash and cash equivalents 10,860
Cash and cash equivalents classified
as Assets held for sale (5,731)
Cash and cash equivalents at beginning of period 156,314
----------
Cash and cash equivalents at end of period $161,443
==========
Headquartered in Jacksonville, Florida, Winn-Dixie Stores, Inc.
-- http://www.winn-dixie.com/-- is one of the nation's largest
food retailers. The Company operates stores across the
Southeastern United States and in the Bahamas and employs
approximately 90,000 people. The Company, along with 23 of its
U.S. subsidiaries, filed for chapter 11 protection on
Feb. 21, 2005 (Bankr. S.D.N.Y. Case No. 05-11063, transferred
Apr. 14, 2005, to Bankr. M.D. Fla. Case Nos. 05-03817 through
05-03840). D.J. Baker, Esq., at Skadden Arps Slate Meagher &
Flom LLP, and Sarah Robinson Borders, Esq., and Brian C. Walsh,
Esq., at King & Spalding LLP, represent the Debtors in their
restructuring efforts. Paul P. Huffard at The Blackstone Group,
LP, gives financial advisory services to the Debtors. Dennis F.
Dunne, Esq., at Milbank, Tweed, Hadley & McCloy, LLP, and John
B. Macdonald, Esq., at Akerman Senterfitt give legal advice to
the Official Committee of Unsecured Creditors. Houlihan Lokey &
Zukin Capital gives financial advisory services to the
Committee. When the Debtors filed for protection from their
creditors, they listed US$2,235,557,000 in total assets and
US$1,870,785,000 in total debts. (Winn-Dixie Bankruptcy News,
Issue No. 41; Bankruptcy Creditors' Service, Inc., 215/945-7000)
*********
Monday's edition of the TCR delivers a list of indicative prices
for bond issues that reportedly trade well below par. Prices are
obtained by TCR editors from a variety of outside sources during
the prior week we think are reliable. Those sources may not,
however, be complete or accurate. The Monday Bond Pricing table
is compiled on the Friday prior to publication. Prices reported
are not intended to reflect actual trades. Prices for actual
trades are probably different. Our objective is to share
information, not make markets in publicly traded securities.
Nothing in the TCR constitutes an offer or solicitation to buy or
sell any security of any kind. It is likely that some entity
affiliated with a TCR editor holds some position in the issuers'
public debt and equity securities about which we report.
Each Tuesday edition of the TCR contains a list of companies with
insolvent balance sheets whose shares trade higher than $3 per
share in public markets. At first glance, this list may look like
the definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
A list of Meetings, Conferences and Seminars appears in each
Wednesday's edition of the TCR. Submissions about insolvency-
related conferences are encouraged. Send announcements to
conferences@bankrupt.com/
On Thursdays, the TCR delivers a list of recently filed chapter 11
cases involving less than $1,000,000 in assets and liabilities
delivered to nation's bankruptcy courts. The list includes links
to freely downloadable images of these small-dollar petitions in
Acrobat PDF format.
Each Friday's edition of the TCR includes a review about a book of
interest to troubled company professionals. All titles are
available at your local bookstore or through Amazon.com. Go to
http://www.bankrupt.com/books/to order any title today.
Monthly Operating Reports are summarized in every Saturday edition
of the TCR.
For copies of court documents filed in the District of Delaware,
please contact Vito at Parcels, Inc., at 302-658-9911. For
bankruptcy documents filed in cases pending outside the District
of Delaware, contact Ken Troubh at Nationwide Research &
Consulting at 207/791-2852.
*********
S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter is a daily newsletter co-published
by Bankruptcy Creditors' Service, Inc., Fairless Hills,
Pennsylvania, USA, and Beard Group, Inc., Frederick, Maryland,
USA. Marie Therese V. Profetana, Shimero Jainga, Joel Anthony G.
Lopez, Robert Max Quiblat, Emi Rose S.R. Parcon, Rizande B. Delos
Santos, Cherry A. Soriano-Baaclo, Christian Q. Salta, Jason A.
Nieva, Lucilo M. Pinili, Jr., Tara Marie A. Martin and Peter A.
Chapman, Editors.
Copyright 2006. All rights reserved. ISSN: 1520-9474.
This material is copyrighted and any commercial use, resale or
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*** End of Transmission ***